Bus 101 Chapter 16
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10 questions
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- Q1A bank promise, issued for a buyer, to pay a designated firm a certain amount of money if specified conditions are met.Personal loanCorporate LoanLetter of CreditCash20sEditDelete
- Q2A financial institution accepting deposits and making loans primarily for home mortgages.Mutual Savings BankInsurance CompanySavings and Loan AssociationCredit Union20sEditDelete
- Q3An object that is portable, divisible, durable, and stable, and that serves as a medium of exchange, a store of value, and a measure of worth.Credit CardDebit CardMoneySmart Card20sEditDelete
- Q4A UN agency consisting of about 150 nations that have combined resources to promote stable exchange rates, provide temporary short-term loans, and serve other purposes.FDICIMFEFTNSA20sEditDelete
- Q5The electronic device that transfers funds from the customer's bank account to pay for retail purchases.Bankers acceptanceSmart CardPOS terminalATM20sEditDelete
- Q6The percentage of its deposits that a bank must hold in cash or on deposit with the Fed.Discount rateInterest rateReserve limitReserve Requirement20sEditDelete
- Q7The electronic machine that allows bank customers to conduct account-related activities 24 hours a day, 7 days a week.ETFChecking AccountETMATM20sEditDelete
- Q8The measure of the money supply that includes only the most liquid (spendable) forms of money.M-1M-2M-3M-920sEditDelete
- Q9The management by a bank of an estate, investments, or other assets on behalf of an individual.Estate servicesFinancial servicesTrust servicesDeath services20sEditDelete
- Q10A bank promise, issued for a buyer, to pay a designated firm a specified amount at a future date.Letter of creditBuyer's promiseBanker's acceptanceLetter of debt20sEditDelete